P-D: As new fiscal year begins, Illinois remains without a budget
From the article: “The state will ultimately be more than $9 billion in the red for the fiscal year that starts today, Gov. Pat Quinn’s administration says, unless the Legislature provides new revenue. He has warned of potential deep cuts in human services such as day care subsidies and elder care, as well as interruptions in other state functions, if the budget gap isn’t closed.”
Read the full article on the Post-Dispatch’s website.
In related news, Reuters reported that California may begin issuing IOUs for payment.